What Is an HOA? A Homeowner’s Guide to Community Associations

If you are considering buying a condominium, townhome, or home in a planned community, there is a good chance the property is governed by a homeowners association, commonly known as an HOA.

But what exactly does an HOA do, where does the money go, and what does HOA membership mean for you as a homeowner?

A homeowners association is an organization established to manage certain responsibilities for a residential community. Depending on the development, those responsibilities may include maintaining common areas, managing community finances, enforcing architectural and community standards, maintaining insurance, overseeing vendors, and planning for future repairs and replacement of major common-area components.

Most HOAs are governed by a volunteer Board of Directors elected by the homeowners. The Board makes decisions on behalf of the association and is responsible for carrying out the duties established by the association’s governing documents and applicable law.

For more information contact Louis Swanepoel, MCAM, Louis@ChasePacific.com